U.S. 10-year Treasury yields hit 2007 high
The U.S. Treasury bond market experienced a notable rise, with 10-year bond yields reaching their highest level since July 2007, following data showing strong growth in the American service and manufacturing sectors. This led to increased expectations of interest rate hikes by the Federal Reserve, with two-year bond yields rising to 4.464% and 30-year yields reaching 5.347%. The Purchasing Managers’ Index (PMI) for both the services and manufacturing sectors recorded high levels not seen in years, reaffirming continued business expansion in the United States.
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